This is our first report on a Insulet Corporation, one of the largest insulin delivery systems providers in the world. The company managed an all-around beat in Q4 generating revenue growth of 45% in the U.S. and over 35% for Omnipod. Their Omnipod 5 Automated Insulin Delivery System’s complete commercial introduction in 2022 was a major accomplishment. They then swiftly expanded the label for Omnipod 5 in the U.S. to accommodate pediatric users as young as age 2. They finished the 510(k) filing for their type 2 basal-only Pod, continuing to build on that momentum throughout the year. Physicians and payers also gain from the company’s annuity business model and pharmacy access. Large upfront expenses and protracted lock-in periods have been abolished. Furthermore, they recently gained IDE approval and completed their type 2 pivotal research protocol with the FDA. Insulet also acquired the pump-based AID technologies of Bigfoot Biomedical. Although macroeconomic conditions remain difficult, they continue to see a high demand for Omnipod 5 which is a positive sign. We initiate coverage on the stock of Insulet Corporation with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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